Proposed Acquisition by Cuentas, Inc. of Majority Stake in World Health Energy Holdings, Inc. Offers Opportunity for Expansion of WHEN Group’s Cybersecurity, AI and Telecom Technology Footprint

Acquisition Enables Integration of Synergistic Technologies and expansion of WHEN Group’s Product Offerings

BOCA RATON, FL, Oct. 19, 2023 (GLOBE NEWSWIRE) -- World Health Energy Holdings, Inc. (OTC Pink: WHEN) (“WHEN Group”), a telecom and cybersecurity company with proprietary technologies developed to protect individuals and enterprises from cybersecurity threats, announced today that the majority shareholder of WHEN Group executed a binding letter of intent with Cuentas, Inc. (Nasdaq: CUEN & CUENW) ("Cuentas"), a developer of an alternative financial ecosystem to underbanked communities. The proposed share exchange transaction, pending Nasdaq and shareholder approval and other specified conditions, will result in WHEN Group becoming a majority owned subsidiary of Cuentas.

WHEN Group was founded by Israeli engineers and international professionals with deep backgrounds in cybersecurity and data threat remediation in both government and private sectors. From business and personal privacy to fin-tech security, WHEN Group has been developing solutions that utilize advanced pattern recognition and AI to create a security screening environment that can detect and defend against a range of threats and attacks on telecom, banking, and other communication infrastructure. 

Following approval and closing of the transactions, Cuentas intends to integrate WHEN Group’s portfolio of cybersecurity solutions into the Cuentas Mobile Platform and will offer WHEN Group’s advanced solutions to Cuentas’ FinTech partners. 

WHEN Group has recently moved into telecommunications platforms with its acquisition of CrossMobile, a licensed telecom (full core mobile virtual network operator) in Poland, joining a small group of licensed telecom operators in the EU. As Cuentas is in the mobile financial services area (amongst others), WHEN Group believes that there are significant synergies between the companies that can be realized.

Cuentas and WHEN Group have been collaborating to identify immediate opportunities to provide WHEN Group solutions not only to the CUENTAS mobile platform, but also to businesses and industries that Cuentas serves in the US and around the world. The companies plan on deploying WHEN Group’s proprietary software to protect families concerned with external cyber threats at home, enabling the monitoring of a child and his environmental behavioral patterns that will alert parents to potential tragedies caused by cyberbullying, pedophiles, other predators, and depression / state of mind.